Public investment, driving force behind national development

PM Chinh chaired a nationwide online conference on February 21 aimed accelerating the allocation and disbursement of public investment capital in the year ahead, as well as the implementation of the socio-economic recovery and development programme.

As part of his opening speech, PM Chinh said that 2023 is the mid-term year which is of great significance in terms of the implementation of the Resolutions of the 13th National Party Congress and the Resolution of the National Assembly on the five-year socio-economic development plan from 2021 to 2025.

The socio-economic development task in the year ahead emphasizes accelerating the disbursement of public investment capital, the effective implementation of socio-economic recovery, the development programme, and three national target programmes.

The Vietnamese Government leader stressed that these tasks are especially important in terms of economics, politics, society, national defense, and security, helping to remove bottlenecks and create a foundation for sound socio-economic development infrastructure.

These tasks will lead investment, open up new development spaces, enhance connectivity, maintain macroeconomic stability, eliminate hunger, and reduce poverty. This is in addition to increasing the country's internal resources and creating motivations for the country's rapid economic recovery and sustainable development.

According to the PM, it is expected that this year will see the amount of public investment capital reach nearly VND711,700 billion, an increase of more than VND130,000 billion compared to 2022.

Therefore, the task of disbursing public investment capital this year is heavier than in 2022, with higher requirements, quality, and efficiency.

However, greater efforts are needed to strive to disburse public investment this year in order to reach at least 95% of the plan set for this year.

The PM requested at this conference that ministries, sectors, and localities discuss and clarify responsibilities; analysis of results, limitations, and lessons learned; especially the difficulties and problems that must be solved.

It can be viewed as necessary to devise solutions in the process of conducting the disbursement of public investment capital to make efforts practical, effective, flexible, and suitable to the actual situation, he went on to say.

The estimated disbursement of the state budget investment plan to January 31 stood at VND 541,858 billion, equivalent to approximately 93.5% of the plan assigned by the PM, according to the Ministry of Planning and Investment.

The state budget investment plan this year, as approved by the National Assembly, is more than VND711,684 billion.

By the end of February 17, ministries, central, and local agencies have allocated and assigned detailed plans for the list of tasks and projects with VND595,616 billion, reaching 84.2% of the plan, as assigned by the PM.

Disbursement of the state budget investment plan for this year is estimated to be more than VND12,819 billion, duly fulfilling 1.81% of the set target.

(Source: VOV)